KLX Energy Services Holdings announced a $125 million rights offering of common stock at a subscription price of $1.49 per share, with a record date of August 21, 2026. The offering is backstopped by holders of the company's 2030 Notes for up to $94 million through an exchange of debt for equity. Concurrently, the company entered into an amended and restated indenture that relaxes leverage covenants and excludes capital leases from indebtedness definitions. Net proceeds up to $31 million will fund general corporate purposes, with excess amounts used to repurchase 2030 Notes at par. KLX Energy Services Holdings operates in the oilfield services industry, providing drilling, completion, production, and intervention services.
